Binani Industries breaches UC
By
Ruma Dubey
about 7 years ago
Binani Industries today rose 5% to Rs.117.45, breaching the UC.
Beating Ultratech Cement, Dalmia Bharat, backed by Bain Piramal Resurgence Fund has emerged the winner for beleaguered Binani Cement.
The Dalmia consortium has decided to invest Rs.6700 crore in the company.
Binani Cement was admitted by the National Company Law Tribunal (NCLT) in July 2017 for resolution under the insolvency and bankruptcy code; its debt stands at around Rs.6500 crore.